Sound Income Strategies LLC Invests $50,000 in SkyWest, Inc. (NASDAQ:SKYW)

Sound Income Strategies LLC purchased a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 501 shares of the transportation company’s stock, valued at approximately $50,000.

Several other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. increased its position in SkyWest by 1,368.0% during the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after buying an additional 342 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of SkyWest in the third quarter valued at about $31,000. GAMMA Investing LLC increased its position in SkyWest by 47.1% during the third quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock worth $116,000 after acquiring an additional 437 shares during the period. USA Financial Formulas raised its stake in SkyWest by 63.7% in the 4th quarter. USA Financial Formulas now owns 1,180 shares of the transportation company’s stock worth $118,000 after purchasing an additional 459 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in SkyWest in the 3rd quarter worth about $158,000. 81.30% of the stock is currently owned by institutional investors.

SkyWest Stock Performance

Shares of SkyWest stock opened at $114.11 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $4.60 billion, a PE ratio of 19.51 and a beta of 1.98. The company has a 50 day moving average of $108.28 and a 200-day moving average of $93.16. SkyWest, Inc. has a 1-year low of $52.35 and a 1-year high of $117.51.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The firm had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, equities research analysts forecast that SkyWest, Inc. will post 7.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on SKYW shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $119.00 target price on shares of SkyWest in a report on Friday, November 15th. Raymond James raised their price objective on SkyWest from $114.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th. Finally, TD Cowen upped their target price on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.25.

Insider Buying and Selling

In other news, CFO Robert J. Simmons sold 16,485 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the completion of the transaction, the chief financial officer now directly owns 113,539 shares in the company, valued at approximately $11,923,865.78. This represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Eric Woodward sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the sale, the chief accounting officer now directly owns 44,426 shares in the company, valued at approximately $4,954,831.78. This trade represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,467 shares of company stock worth $10,082,596 in the last ninety days. 2.00% of the stock is owned by insiders.

About SkyWest

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.